Bursa KLCI

13 February 2018 – Is Gold breaking out?

Indices
Dow Transportation closed at 10380.71 with a bullish candle below its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 218.43. BuySellTimer is in its negative cycle. TSI is in a negative cycle and negative slope. Market direction – Bearish.

Dow Industrial closed at 24640.45 with a bullish candle below its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 284.69. BuySellTimer is in negative cycle. TSI is in a negative cycle and negative slope. Market direction – Bearish.

Russell 2000 closed at 1494.95 with a bullish candle below its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 15.08. BuySellTimer is in negative cycle. TSI is in a negative cycle and negative slope. Market direction – Bearish.

Nasdaq 100 closed at 6553.86 with a bullish candle below its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 89.21. BuySellTimer is in its negative cycle. TSI is in a negative cycle and negative slope. Market direction – Bearish.

S&P 500 closed at 2662.94 with a bullish candle below its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 31.76. BuySellTimer is in its negative cycle. TSI is in a negative cycle and negative slope. Market direction – Bearish.

Metals and Commodities
WTI Crude oil futures (CL) closed at $58.95 per barrel with an bearish candle below its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 0.48. BuySellTimer is in a negative cycle. TSI is in a negative cycle and negative slope. Market direction – Bearish.

Gold futures (GC) closed at 1332 with a bullish candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 9.8. BuySellTimer is in a negative cycle. TSI is in a positive cycle and negative slope. Market direction – Bearish. Gold is in a Squeeze.

Agriculture (DBA) ETF closed at 18.94 with a doji candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 0.08. BuySellTimer is in a positive cycle. TSI is in a positive cycle and positive slope. Market direction – Neutral/Bullish.

Commodities (DBC) ETF closed at 16.26 with a bullish candle below its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 0.13. BuySellTimer is in its negative cycle. TSI is in a negative cycle and negative slope. Market direction – Bearish.

Bonds
Bond futures (/ZB) closed at 144’27 with a bullish candle below its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 0.75. BuySellTimer is in its negative cycle. TSI is in its negative cycle and positive slope. Market direction – Bearish.

High Yield bond ETF (HYG) closed at 85.26 with a bullish candle below its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 0.31. BuySellTimer is in a negative cycle. TSI is in a negative cycle and negative slope. Market direction – Bearish.

Currencies
The dollar index ($DXY) closed at 89.734 with a bearish candle below its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 0.568. TSI is in a negative cycle and negative slope. Market direction – Neutral – Bearish.

EUR/USD closed at 1.235 with a bullish candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 0.0086. TSI is in a positive cycle and positive slope. Market direction – Neutral – Bullish.

USD/JPY closed at 107.80 with a bearish candle below its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 1.366. TSI is in a negative cycle and negative slope. Market direction – Bearish.

6S(Swiss Franc) – closed at 1.067 with a bullish candle above its 8 EMA, 21 EMA and 50 SMA. Daily trading range was 0.0085. BuySellTimer is in a positive cycle. TSI is in a positive cycle and negative slope. Market direction is Bullish.

Relative Strength – Sectors
On a monthly lookback, the relative strength order of the ETFs that are outperforming the S&P 500 are XLK, XLY, XLF and XLI respectively.

On a 3-monthly lookback, the relative strength order of the ETFs that are outperforming the S&P 500 are XLY, XLF, XLI and XLK respectively.

Market Internals
Market Sentiment is neutral. Market breadth continues to slope downwards showing nett loss to gainers. Market Volume accumulation/distribution has turned upwards showing accumulation. SKEW is 143.07. Vix is at 24.97 and Vix futures is at 19.85.

The Week Ahead
The indices are pulling back up from an Oversold condition. Market internals continue to show weakness. Skew is elevated which indicates the Short Sellers are expecting the market to move downwards. The indices still remains oversold as all of them are still below its moving averages. The market still shows plenty of volatility. Vix and Vix futures are in backwardation. Vix players are expecting near term volatility but longer term stability and upwards direction. The prognosis is for continuing volatility.

Futures (daily chart):
ES – Sell
NQ – Sell
YM – Sell
GC – Buy
CL – Sell / Neutral

Stocks Buy Watchlist
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Penny Stocks BreakOut
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